Non-Consolidated Annual Report 2017

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2017 16 1 KPMG, a Barbados partnership and a member firm of the KPMG network of Independent member firms affiliated with KPMG International Cooperative(“KPMG International”) a Swiss entity. INDEPENDENT AUDITORS’ REPORT To the Members of Barbados Public Workers’ Co-operative Credit Union Limited Report on the Audit of the Non-Consolidated Financial Statements Opinion We have audited the non-consolidated financial statements of Barbados Public Workers’ Co-operative Credit Union Limited (the “Credit Union”) which comprise the non- consolidated statement of financial position as at March 31, 2017, the non-consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, and notes, comprising significant accounting policies and other explanatory information. In our opinion, the accompanying non-consolidated financial statements present fairly, in all material respects, the non-consolidated financial position of the Credit Union as at March 31, 2017, and its non-consolidated financial performance and its non-consolidated cash flows for the year then ended in accordance with the International Financial Reporting Standards. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Credit Union in accordance with the ethical requirements that are relevant to our audit of the non-consolidated financial statements in Barbados, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. KPMG Hastings Christ Church, BB 15154 Barbados West Indies Telephone (246) 434-3900 Fax (246) 427-7123 P. O Box 690C Bridgetown, Barbados